EUROPEAN COUNCIL/MFF : COHESION POLICY BUDGET SLASHED BY 8.5%.

The most developed, non-cohesion states will bear the brunt of the cut in the budget for the future cohesion policy, decided by the EU heads of state and government, on 8 February. The 27 agreed on a budget of 325.149 billion for the period 2014-2020. This is admittedly 4 billion more than the amount in last November's proposal, but 29 billion less than in the current programming period (354.8 billion in 2011 prices), in other words an 8.5% reduction. The experts nevertheless consider that France will keep its current allocation due to arrangements foreseen for the transition regions.

The budget will break down as follows:

- 164.279 billion for the least developed regions (more than in the Commission's proposal of 162.6 billion)

- 31.677 billion for transition regions (Commission: 39 billion)

- 49.492 billion for the least developed regions (Commission: 53 billion)

- 66.362 billion for Cohesion Fund beneficiary states (of which 10 billion will have to be reserved to finance projects in the Trans-European Transport Network).

A bonus of 1.387 billion is foreseen for the outermost regions (Canary Islands, Azores, Madeira, Martinique, Guadeloupe, French Guiana, Reunion, Saint-Martin and...